Additional Milestone Payment definition
Examples of Additional Milestone Payment in a sentence
For clarity, if the Payment Trigger is a Change of Control and Praxis timely pays the Additional Milestone Payment and the [***], then [***].
For clarity, each Additional Milestone Payment is payable only once; no Additional Milestone Payment shall be payable for subsequent or repeated achievements of such Additional Milestone Event with one or more of the same or different Amgen Optioned Products directed against such Amgen Optioned Target.
Amgen shall report to Kite its achievement of each Additional Milestone Event for which payment to Kite is due, within […***…] after Amgen determines such achievement has occurred, and Kite shall invoice Amgen for the applicable Additional Milestone Payment.
In this regard, it is expressly understood that if Quark seeks to conduct studies of PF-655 prior to the due date of the Additional Milestone Payment which are not for the purpose of carrying out the Additional Trial, Quark needs to obtain the prior consent of the Pfizer representatives on the JDC.
In addition, Pfizer hereby grants to Quark a nonexclusive, royalty-free, worldwide license under Pfizer Patent Rights and Pfizer Technology to develop, make and have made Biomolecules and Licensed Products during the period of time from the Second Amendment Effective Date to the date of payment of the Additional Milestone Payment.
Notwithstanding Section 7.3(a) of the Agreement, which requires Pfizer to share the patent prosecution costs for Quark Patent Rights, effective with the Second Amendment Effective Date and until the payment by Pfizer of the Additional Milestone Payment, Quark shall be solely responsible for 100% of the out-of-pocket costs and expenses incurred by Quark to obtain, prosecute, and maintain Quark Patent Rights that are solely owned or controlled by Quark and that cover Biomolecules or Licensed Products.
If Pfizer does not make the Additional Milestone Payment within the prescribed time period and the Agreement is terminated pursuant to Section 13.1(b) of the Agreement, Pfizer shall transfer its IND to Quark as provided in Section 13.3 of the Agreement in the event it has not already done so as provided in this Section.
If Pfizer makes the Additional Milestone Payment, Pfizer shall thereafter become responsible for the remaining costs of completion of the Additional Trial (including by way of example continued patient monitoring, data collection and report writing).
If Pfizer makes the Additional Milestone Payment as set forth below, Quark shall thereafter, upon the request of Pfizer, promptly transfer any such IND for PF-655 to Pfizer.
In the event Pfizer pays the Additional Milestone Payment, Pfizer shall thereafter reimburse Quark for the amounts that would otherwise have been paid by Pfizer pursuant to Section 5.11(b) during such period of time, within [*] following receipt of an invoice from Quark.